The majority of independent workers say they are much more or somewhat more involved in their finances as a result of working independently, a T. Rowe Price survey found.
The updated mortality improvement rates and static tables apply for purposes of calculating a defined benefit (DB) plan’s funding target and other items for valuation dates occurring during the 2020 calendar year.
The new offering will have three menus—core menu, core plus and expanded menu—and depending on the demographics and investment acumen of participants, plan sponsors can choose the best fit.
A new calculator from Millennium Trust, the Automatic Rollover Savings Calculator, allows plan sponsors to see their potential cost savings by automatically rolling over participant account balances of up to $5,000 into an individual retirement account (IRA).
INSIDE THE MAGAZINE PLANSPONSOR February-March 2019
The parties anticipate that they will be in a position to submit a formal settlement motion to the court within 45 days.
When I expected a decent refund, I filed my tax return as soon as I had the information I needed, but like many, this year, I was hit with a surprise.
The new program allows employers to integrate charitable giving into their current benefits program.
Pension plans’ funding rose a mere 70 basis points last year, according to Goldman Sachs Asset Management.
If one adds annual spending figures, in today’s dollars, if you’re “average,” one can expect costs to be $414,000 over a lifetime.
According to Lori Dickerson Fouché, with TIAA, “The enhanced Retirement Profile tool shows TIAA annuity customers how the combination of lifetime income—such as fixed and variable annuities, Social Security or pensions—and systematic withdrawals have the potential to yield a steady and guaranteed retirement paycheck."
While start-up plans do offer beneficial provisions for retirement plan participants, PLANSPONSOR’s 2018 Defined Contribution Survey finds not all of them are yet using plan designs and governance practices that are recommended in the industry.
If they were automatically enrolled into a defined contribution plan, 77% say they would remain in the plan.
The plan’s history offers a case study for how to turn around a troubled public pension system after years of neglect; the system at one point was no better than 20% funded.